Richard Agetu with his partner, was inspired to establish Richsi Nigeria Limited, a start-up agro
business focused on processing and packaging of a special brand of fish known
as ‘Ejazuki’ in the Nigeria’s capital Abuja and its environs.

This business was born out of his quest to
address the issues of post-harvest losses and Nigeria’s product rejection at
the international borders.

These triggered his entry into the country’s aquaculture
industry to provide lasting solutions to the challenges, forcing him in 2016 to
establish Richsi with his partner.

Richard, a fishery graduate, along with his partner,
established the fish business with an initial start-up capital of N300, 000.

He and his partner do not own a fish farm but buys fresh
pieces of fish from farmers within Abuja and its environs for onward processing
and packaging. The fish is then exported to many parts of the world, including
the United Kingdom and the United States.

“I worked with farmers and realised that post- harvest losses
and rejections of our produce within the international borders were the major
issues farmers faced. To address this challenge, we established Richsi Nigeria
Limited to employ best practices in processing and packaging of fish that can
compete with others internationally,” Richard said.

According to him, the business has grown in terms of output,
reach, number of farmers in the off-take chain and the number of jobs being
created within the value chain.

“Our business has grown in terms of consumer reach. The
number of farmers we buy directly from has also increased, and we have been
able to create direct and indirect jobs to more people and partnership
opportunities are being opened to us from various parts of the country and the
world,” the University of Ibadan graduate said.

Richard told Start-Up Digest that the business has received
funding from the Tony Elumelu Foundation, enabling it to scale up production.

The business currently receives direct overseas orders from
many of the world through its online platform.

Richard noted that the packaging materials used are sourced
locally and designed and produced by him and his partner.

“We design and produce the packaging materials ourselves from
scratch, here in Abuja. As a green enterprise, we use eco-friendly and
re-cyclyable materials to produce the packaging,” he said.

Answering questions on what the government can do to ensure
that youths find agriculture attractive, Richard said that the government must ensure
continuity of agricultural policies and ensure that the sector become
mechanised.

He noted that youths will only find agric attractive when
there is innovation and the government are able to follow through policies and
programmes in the sector irrespective of change in government.

Speaking on the challenges faced since starting his business,
Richard stated that restricted access to technical data and high cost of credit
remains the biggest problem confronting the business.

“The bureaucracy involved in getting industry data from most
ministries, departments and agencies (MDAs) is very tasking and discouraging.
This often leaves new agricultural entrants like me information-stranded,” he
said.

“Numerous bottlenecks in accessing government incentives such
as the Central Bank of Nigeria (CBN)and the Bank of Industry (BoI) loans
discourage SMEs from approaching these bodies,” Richard added.

He urged the government to make industry data available and
easily accessible, while stressing the importance of data to investment
decisions and planning.

He also called on the government to make access to government
funding easier for start-ups with exceptional business ideas.

Answering questions on advice to other entrepreneurs, he
said, “To other entrepreneurs, the set time to think and act globally is now.”